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☆ Marlboro maker Philip Morris reports revenue miss, but strong sales of cigarette alternatives
▼ + stars: | 2023-10-19 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Philip Morris International Inc. Marlboro brand cigarettes are arranged for a photograph in Shelbyville, Kentucky, U.S., on Friday, Oct. 2, 2015. Philip Morris International on Thursday reported quarterly earnings that topped Wall Street's expectations but revenue that missed estimates, as sales for its heated tobacco and oral nicotine products remain strong. For the quarter ended September 30, Philip Morris posted revenue of $9.14 billion, compared to year-ago revenue of $8.03 billion, a 13.8% increase. He cited IQOS, its line of heated tobacco products, and its Zyn oral nicotine pouch as growth drivers. Zyn nicotine pouches are tobacco-free oral products touted by the company as a cleaner, more discreet way to consume nicotine.

Persons: Philip Morris, Jacek Olczak, Olczak, Zyn Organizations: Philip Morris International Inc, Marlboro, Philip Morris International, LSEG, Swedish Locations: Shelbyville , Kentucky, U.S

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Philip Morris to launch new $30 mln production facility in western Ukraine
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

KYIV, June 20 (Reuters) - Philip Morris International Inc (PM.N) will launch a new $30 million production facility in the Lviv region in western Ukraine in the first quarter of next year, the company said on Tuesday. "This investment reflects our commitment as Ukraine's long-term economic partner," Maksym Barabash, Chief Executive Officer of Philip Morris Ukraine, said in a statement. Some large multinationals that were active in Ukraine for many years have recently announced investment plans to launch production in the country's central and western regions, far from front lines. Nestlé (NESN.S) started construction in May of a 40-million Swiss franc ($42.7-million) production facility in the west of Ukraine. Philip Morris has invested over $700 million in the Ukrainian economy since the start of its operations in the country in 1994.

Persons: Philip Morris, Barabash, Philip Morris Ukraine, Olena Harmash, Timothy Heritage, Conor Humphries Organizations: Philip Morris International Inc, Gross, Unilever, Thomson Locations: Lviv, Ukraine, Kyiv, Ukrainian

☆ Altria to buy e-cigarette startup NJOY for $2.8 bln after Juul exit
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

March 6 (Reuters) - Altria Group Inc (MO.N) said on Monday it would buy e-cigarette startup NJOY Holdings Inc for about $2.75 billion in cash, in fresh bets by the Marlboro maker on the fast-growing market after losing billions through its investment in Juul. The value of Altria's investment in Juul slid to $250 million as of December last year from $12.8 billion it invested in 2018. The NJOY deal will include an additional $500 million in cash payments subject to regulatory outcomes related to some NJOY products, Altria said. NJOY is one of the handful of vaping companies whose products have clearance from federal regulators. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj Kalluvila and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Altria to light up vaping push with $2.8 bln NJOY bid after Juul fiasco
▼ + stars: | 2023-03-06 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Altria on Friday said it had exchanged its investment in Juul, last valued at $250 million, for some of the once red-hot vaping company's heated tobacco intellectual property. Altria's stake in Juul, valued at $12.8 billion in 2018, had raised antitrust concerns and the Federal Trade Commission filed a complaint in April 2020. NJOY's products include Ace Pods - currently the only pod-based e-vapor product with market authorizations from the FDA - and disposable e-cigarettes under the NJOY Daily brand. The deal will include an additional $500 million in cash payments based on regulatory decisions related to other NJOY products, Altria said. Vapor products was a $7.84 billion market in the United States in 2021, up from $4.6 billion in 2017, according to Euromonitor International, and is projected to rise to $9.46 billion by 2025.

☆ Futures rise on earnings optimism, Disney climbs on revamp plan
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +3 min

Casino stocks Wynn Resorts (WYNN.O) and MGM Resorts International (MGM.N) gained about 5% each after reporting fourth-quarter results, with Wynn indicating a meaningful return of visitation and demand in Macau during the recent Chinese New Year holiday period. PepsiCo Inc (PEP.O) rose 1.4% as the soda maker reported better-than-expected results for its fourth quarter. Of more than half of the S&P 500 companies that have reported fourth-quarter results so far, 69% have topped analysts' earnings estimates, as per Refinitiv IBES data. ET, Dow e-minis were up 254 points, or 0.75%, S&P 500 e-minis were up 37.25 points, or 0.9%, and Nasdaq 100 e-minis were up 162.5 points, or 1.3%. Reporting by Sruthi Shankar, Medha Singh and Johann M Cherian in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Juul in deal talks with three tobacco giants - WSJ
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

Jan 25 (Reuters) - E-cigarette maker Juul Labs Inc is in early talks with three tobacco giants for a potential sale, strategic investment, licensing or distribution deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company, which was reportedly looking to file for Chapter 11 bankruptcy, have had separate discussions with Philip Morris International Inc (PM.N), Japan Tobacco Group (2914.T) and Altria Group Inc (MO.N), the report said. Juul, partly owned by Marlboro maker Altria, did not immediately respond to a Reuters request for comment. A deal is not imminent and the discussions may not result in a sale or partnership, the people told the Journal on Wednesday. Last week, Juul secured preliminary court approval of a $255 million settlement resolving claims by consumers that it deceptively marketed e-cigarettes.

☆ Democratic upset in U.S. midterms could roil markets, options mavens say
▼ + stars: | 2022-11-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 8 (Reuters) - An unexpected result in Tuesday’s U.S. midterm election could roil markets positioned for relative calm, options strategists said. Control of the U.S. Congress is at stake in Tuesday's midterms, with Republicans favored by polls and betting markets to win control of the House of Representatives and possibly the Senate. At the individual stock level, certain names have the potential for higher election-related volatility, strategists at Goldman Sachs said in a note earlier this month. Meanwhile, shares of tobacco company Philip Morris International Inc (PM.N) could be volatile around regulatory restrictions, Goldman’s analysts wrote. Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Altria partners with Japan Tobacco to bolster smoke-free category
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] A woman poses with a cigarette in front of Altria logo in this illustration taken July 26, 2022. REUTERS/Dado Ruvic/IllustrationOct 27 (Reuters) - Marlboro maker Altria Group Inc (MO.N) on Thursday announced a strategic partnership with Japan Tobacco (2914.T) in an attempt to boost its smoke-free category. Altria and JT will jointly establish Horizon Innovations LLC, which would be responsible for U.S. marketing and commercialization of heated tobacco stick (HTS) products owned and developed by either company. Altria said the joint venture would be through its subsidiary Philip Morris USA that will hold a 75% economic interest in Horizon and Japan Tobacco International, a subsidiary of JT, holding the rest. Philip Morris agreed to pay $2.7 billion for the exclusive right to sell IQOS heated tobacco products in the United States.

☆ Altria sells U.S. IQOS rights to Philip Morris for $2.7 bln
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Philip Morris is looking to overturn the ban. Philip Morris, which reports quarterly results later on Thursday, aims to resume supply of IQOS products in the United States by the first half of 2023. Altria still holds the rights to sell IQOS in the United States until May 2024, after which it transitions to Philip Morris. "We are ready to invest behind IQOS to bring it to market at scale across the U.S.," Philip Morris Chief Executive Officer Jacek Olczak said. Altria said it has already received $1 billion from Philip Morris and will receive the remainder by July 2023.

Philip Morris (PM.N) increased its bid by more than 9% to 116 Swedish crowns per share and said that the offer was its "best and final price". Philip Morris made an all-cash offer of 106 crowns per share for Stockholm-based Swedish Match in May. By Swedish law, 90% of Swedish Match shareholders need to approve the offer before Nov.4. Pontus Dackmo, CEO of Protean Funds who has 500,000 shares in Swedish Match, said he was still not impressed by the sweetened offer from Philip Morris. The company had earlier said it was expecting EU antitrust approval for its Swedish Match bid in late October.

☆ Philip Morris sweetens buyout bid for Swedish Match to $15.8 bln
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share, although it said that the offer was its "best and final price". Swedish Match did not immediately respond to Reuters's request for comment on the revised offer. Philip Morris has announced that they are not waiving the 90 percent acceptance condition. The deal will fail and Swedish Match will remain an independent company," Hempton said. The company had earlier said that it was expecting EU antitrust approval for its Swedish Match bid in late October.

☆ Altria gets $2.7 bln from Philip Morris for IQOS U.S. sales rights
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Altria in a statement said it has already received $1.0 billion from PMI and will receive the remainder by July 2023. Philip Morris, which was spun off from Altria in 2008, did not respond to a request for comment outside of business hours. The company will report its quarterly earnings results on Thursday, whereas Altria will report its earnings on Oct. 27. Separately, Philip Morris plans to raise its $16 billion offer for Swedish Match AB (SWMA.ST), the Wall Street Journal reported on Wednesday citing people familiar with the matter. Activist investor Elliott Management, which raised its stake in Swedish Match last month, plans to oppose the bid under its current terms along with some other investors.

☆ Altria reaches $2.7 bln deal with Philip Morris to sell U.S. IQOS rights
▼ + stars: | 2022-10-19 | by ( Makiko Yamazaki | ) www.reuters.com time to read: 1 min

Oct 19 (Reuters) - Altria Group Inc said on Wednesday its unit has reached a $2.7 billion deal with Marlboro maker Philip Morris International Inc's (PM.N) unit to sell the U.S. commercialization rights for its IQOS heated tobacco products. Altria has received a $1 billion payment from Philip Morris and will receive an additional payment of $1.7 billion by July 2023 for a total payment of about $2.7 billion pre-tax, according to the statement. Separately, the Wall Street Journal reported on Wednesday that Philip Morris is planning to raise its offer for Swedish Match AB (SWMA.ST), citing people familiar with the matter. Register now for FREE unlimited access to Reuters.com RegisterReporting by Deborah Sophia in Bengaluru; editing by Diane Craft and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Loans Are Cheaper Than Bonds for Some Highly Rated Companies
▼ + stars: | 2022-09-21 | by ( Nina Trentmann | ) www.wsj.com time to read: +7 min

Some highly rated companies are turning to term loans instead of bonds for their financing needs, taking advantage of cheaper pricing as banks have been slower to adjust to rising interest rates than the credit markets. Highly rated companies raised $998.8 billion in bonds in the U.S. this year through Monday, compared with $177.9 billion in term loans, according to Refinitiv, a data provider. For all of last year, fundraising through bonds amounted to $1.46 trillion versus $236.7 billion for term loans for investment-grade-rated companies. Term loans often have a shorter duration than bonds, with many of them ranging from three to five years. Term loans tend to be secured,” Mr. Holtz said, pointing to the mixture of bonds and term loans that make up the company’s capital structure.

Actul prevede principiile și direcțiile generale de cooperare între părți, printre care: schimbul de date și informații, întărirea capacității operaționale ale subdiviziunilor antifraudă, îmbunătățirea pregătirii profesionale a funcționarilor vamali. Serviciul Vamal colaborează cu Philip Morris International începând cu anul 2015. Anume atunci a avut loc prima Conferință Antitabac și primul Campionat internațional canin, organizat de Serviciul Vamal la Ocnița. De atunci și până în prezent, marile companii producătoare de țigări, printre care și Philip Morris, au sprijinit instituția în organizarea acestor evenimente. În adresarea sa, Directorul Serviciului Vamal, Sergiu Burduja a menționat importanța dezvoltării în permanență a parteneriatelor durabile cu mediul privat: „Diminuarea contrabandei cu țigarete se datorează și cooperării strânse dintre instituțiile statului și producătorii de țigarete.

Persons: Philip Morris International, Philip Morris, Sergiu Burduja Organizations: Vamal Locations: Ocnița

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